Answer the following questions. Question-1: The objective of a study is to produce a multiple regression model to predict sales of cottonfabric. The explanatory variables areX,Whole sale price indexQuantity of Imported Fabricх,Quantity of Exported FabricTimePart of a computer output from the estimated regression based on 28 observations is shown below:PredictorConstantCoeff StdDev88762295X,-2425-62.5X,0.50.2X,6370Analysis of VarianceSourceRegressionErrorTotal21080142622506 a) Write down the estimated regression equation and interpret the estimated regression coefficients forX, and X,.b) Test if the overall regression model is significant or not using a 0.05 level of significance.c) Test the significance of each regression coefficient. Use significance level 0.05.d) Suppose we drop the variable X, from the model. The reduced regression model has X,, X, and X,as explanatory variables. The reduced model has R² =0.9. Test if the reduced regression model issignificant or not at significance level 0.05.e) Suppose you believe that the quantity of cotton fabric sold may also be impacted by how cold theweather is. Furthermore, suppose you have classified the weather in three categories, cold, normal, warm.Design a regression model that allows for the new variables and show how you test your hypothesis.

Name: Answer the following questions. Question-1: The objective of a study i
Uploaded: 2024-03-20T07:07:37.000Z
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Description: Answer the following questions. Question-1: The objective of a study is to produce a multiple regression model to predict sales of cottonfabric. The explanatory variables areX,Whole sale price indexQuantity of Imported Fabricх,Quantity of Exported Fa